Residential Spending Scores Significant Annual Gains

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Posted To: MND NewsWire

There was a slight increase in total spending on construction in September. The U.S. Census Bureau says that all construction put in place during the month came to a seasonally adjusted annual rate of $1.220 trillion, 0.3 percent more than spending in August, and 2.0 percent above the rate in September 2016. On a non-seasonally adjusted basis, expenditures by both public and private sources was $110.92 billion for the month, and over the first nine months of the year has come to $917.0 billion, 4.3 percent more than spending over the same period in 2016. Privately funded construction was at a rate of $942.7 billion, an 0.4 percent increase from August and 3.1 percent ahead of the previous September. The strongest sector was transportation spending which posted a 22.0 percent increase year-over…(read more)

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